Tax on premium for residential lease extension

Tax on premium for residential lease extension

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my company has owned a retail investment property with flats ove since 1991. The resi leases are down to about 65 years and some tenants want to extend by the 90 years they are entitled to under the leasehold reform act.

We are wondering on what basis we will be taxed o any premium we receive.

Grateful for any advice
John Reed

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